KLCI crosses 1600 points, with eyes on Budget 2021 vote

KLCI crosses 1600 points, with eyes on Budget 2021 vote
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KUALA LUMPUR (Nov 26): The FBM KLCI crossed the 1,600-point mark as trading resumed after the noon break, with investors closing watching the Budget 2021 vote.

The vote is scheduled to take place today in Dewan Rakyat. 

At 3pm, the KLCI was up 10.1 points at 1,607.22. The index earlier rose to a high of 1,609.

On the broader market, gainers led losers by 605 to 494, while 438 counters were unchanged. Trading volume was 5.27 billion shares valued at RM2.26 billion.

Electrical and electronics players such as Malaysian Pacific Industries Bhd, KESM Industries Bhd, Khind Holdings Bhd, Panasonic Manufacturing Malaysia Bhd were among the top gainers.

Rubber glove makers including Top Glove Corp Bhd, Supermax Corp Bhd and Hartalega Holdings Bhd also climbed as investors resorted to bargain hunting.

Actively traded stocks included AT Systematization Bhd, Vivocom Intl Holdings Bhd, XiDeLang Holdings Ltd, KNM Group Bhd and EA Holdings Bhd.

Decliners included Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd and Dutch Lady Milk Industries Bhd.

Investors also took profit on banking stocks such as Hong Leong Bank Bhd (HLB), Public Bank Bhd and Malayan Banking Bhd (Maybank).

Most regional markets rose today, fuelled by positive development on the coronavirus vaccine front.

S Kanagaraju